Bitcoin incoming consolidation

10 Ağu 2022

As shown in the 1hr timeframe, Bitcoin can't stay above the 24200 resistance area. The S&P and Nasdaq have rallied, and Bitcoin doesn't seem to follow the upwards bullish momentum. I expect the markets to pull back and think BTC will take this opportunity to retest the bottom support slope and continue to crawl and consolidate until a direction is chosen. According to the current bullish trend, it will be an upwards move. Overall, we go down before we go up.